in many cases. Fracking also is done in formations that do not produce oil, just for the gas.
I cannot say this is accurate info below. It just hit my inbox as a forward from someone working in the new oil fields.
The Bakken is the largest domestic oil discovery since
Alaska 's Prudhoe Bay , and has the potential to
eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates
it at 503 billion barrels. Even if just 10% of the oil is recoverable( 5 billion barrels), at $107 a barrel,
we're looking at a resource base worth more than $5.3 trillion.
"When I first briefed legislators on this, you could practically see their jaws hit the floor.
They had no idea.." says Terry Johnson, the Montana Legislature's financial analyst.
"This sizable find is now the highest-producing onshore oil field found in the past 56 years," reports The Pittsburgh Post Gazette .
It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.'
It stretches from Northern Montana, through North Dakota and into Canada .
For years, U. S. oil exploration has been considered a dead end.
Even the 'Big Oil' companies gave up searching for major oil wells decades ago.
However, a recent technological breakthrough has opened up the Bakken's massive reserves,
and we now have access of up to 500 billion barrels. And because this is light, sweet oil,
those billions of barrels will cost Americans just $16 PER BARREL !!!!!!
That's enough crude to fully fuel the American economy for 2041 years straight.
And if THAT didn't throw you on the floor, then this next one should - because it's from 2006 !!!!!!
U.. S. Oil Discovery - Largest Reserve in the World
Stansberry Report Online - 4/20/2006
Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world.
It is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction.
In three and a half years of high oil prices none has been extracted.
With this motherload of oil why are we still fighting over off-shore drilling?
They reported this stunning news:
We have more oil inside our borders, than all the other proven reserves on earth.
Here are the official estimates:
8 times as much oil as Saudi Arabia
18 times as much oil as Iraq
21 times as much oil as Kuwait
22 times as much oil as Iran
500 times as much oil as Yemen
and it's all right here in the Western United States !!!!!!
HOW can this BE? HOW can we NOT BE extracting this? Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil!
Again, we are letting a small group of people dictate our lives and our economy. WHY?
James Bartis, lead researcher with the study says we've got more oil in this very compact area
than the entire Middle East , more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post .
Don't think 'OPEC' will drop its price even with this find? Think again! It's all about the competitive marketplace, it has to.
Think OPEC just might be funding the environmentalists?
Got your attention yet? Now, while you're thinking about it, do this:
Pass this along. If you don't take a little time to do this, then you should stifle yourself the next time
you complain about gas prices, by doing NOTHING, you forfeit your right to complain.
Now I just wonder what would happen in this country if every one of you sent this to every one in your address book.
By the way, this can be verified. Check it out at the link below !!!!!!
http://www.usgs.gov/newsroom/article.asp?ID=1911
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